Trexquant Investment LP Has $11.94 Million Position in The Cheesecake Factory Incorporated $CAKE

Key Points

• Trexquant Investment LP increased its stake in The Cheesecake Factory by 74.4%, owning about 245,413 shares worth approximately $11.9 million at the end of the first quarter.
• Insider trading revealed significant sales, including Cheesecake Factory President David M. Gordon selling 43,335 shares at an average price of $63.06, reducing his position by 63.85%.
• Analyst ratings for Cheesecake Factory's stock vary, with a consensus average target price of $61.94 and multiple price target adjustments from various firms, including an increase to $75.00 from Oppenheimer.

Trexquant Investment LP raised its stake in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) by 74.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 245,413 shares of the restaurant operator's stock after acquiring an additional 104,694 shares during the quarter. Trexquant Investment LP owned approximately 0.50% of Cheesecake Factory worth $11,942,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. USA Financial Formulas acquired a new position in shares of Cheesecake Factory in the 1st quarter valued at about $49,000. Golden State Wealth Management LLC grew its position in Cheesecake Factory by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 1,060 shares of the restaurant operator's stock valued at $52,000 after buying an additional 530 shares in the last quarter. SBI Securities Co. Ltd. lifted its position in Cheesecake Factory by 38.5% in the first quarter. SBI Securities Co. Ltd. now owns 1,244 shares of the restaurant operator's stock worth $61,000 after purchasing an additional 346 shares during the period. Bayforest Capital Ltd acquired a new stake in shares of Cheesecake Factory in the first quarter valued at $72,000. Finally, Smartleaf Asset Management LLC boosted its position in shares of Cheesecake Factory by 24.4% during the 1st quarter. Smartleaf Asset Management LLC now owns 3,268 shares of the restaurant operator's stock valued at $162,000 after purchasing an additional 640 shares in the last quarter. 94.48% of the stock is owned by institutional investors and hedge funds.

Cheesecake Factory Price Performance

Cheesecake Factory stock traded up $0.75 on Wednesday, reaching $61.84. The company's stock had a trading volume of 191,158 shares, compared to its average volume of 1,438,365. The Cheesecake Factory Incorporated has a twelve month low of $35.40 and a twelve month high of $69.70. The company has a market cap of $3.08 billion, a price-to-earnings ratio of 19.03, a PEG ratio of 1.46 and a beta of 1.10. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.42 and a current ratio of 0.51. The business's fifty day moving average price is $63.14 and its 200 day moving average price is $55.74.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last announced its earnings results on Tuesday, July 29th. The restaurant operator reported $1.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.06 by $0.10. The company had revenue of $955.83 million for the quarter, compared to analyst estimates of $945.82 million. Cheesecake Factory had a net margin of 4.33% and a return on equity of 45.92%. Cheesecake Factory's quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.09 earnings per share. Equities analysts expect that The Cheesecake Factory Incorporated will post 3.71 earnings per share for the current fiscal year.

Cheesecake Factory Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th were paid a $0.27 dividend. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.7%. Cheesecake Factory's dividend payout ratio is 33.23%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on CAKE shares. The Goldman Sachs Group restated a "neutral" rating and issued a $67.00 target price (up from $66.00) on shares of Cheesecake Factory in a report on Thursday, July 10th. Morgan Stanley lifted their price objective on Cheesecake Factory from $45.00 to $47.00 and gave the company an "underweight" rating in a research report on Thursday, July 31st. Argus set a $60.00 price target on shares of Cheesecake Factory in a report on Wednesday, May 14th. Robert W. Baird set a $64.00 target price on Cheesecake Factory and gave the stock a "neutral" rating in a report on Wednesday, July 30th. Finally, Raymond James Financial raised their price target on Cheesecake Factory from $70.00 to $73.00 and gave the company an "outperform" rating in a research report on Friday, August 15th. Seven research analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $61.94.

Insider Buying and Selling

In other news, Director Alexander L. Cappello sold 12,388 shares of Cheesecake Factory stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $65.88, for a total transaction of $816,121.44. Following the transaction, the director directly owned 6,806 shares of the company's stock, valued at $448,379.28. This trade represents a 64.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President David M. Gordon sold 43,335 shares of Cheesecake Factory stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $63.06, for a total value of $2,732,705.10. Following the transaction, the president owned 24,532 shares in the company, valued at $1,546,987.92. This trade represents a 63.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 74,523 shares of company stock valued at $4,654,643 in the last 90 days. 8.10% of the stock is owned by insiders.

Cheesecake Factory Profile

The Cheesecake Factory Incorporated operates and licenses restaurants in the United States and Canada. The company operates bakeries that produce cheesecakes and other baked products for its restaurants, international licensees, third-party bakery customers, external foodservice operators, retailers, and distributors.